bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Lilian Cheng

More than 5,000 jobs will be made available for young people in Hong Kong with the latest unemployment rate among 20 to 24-year-olds close to a record high, the city’s leader has said.
The announcement came after the overall unemployment rate from March to May climbed to its highest level in 15 years, hitting 5.9 per cent, although the rate of increase was slowing.
Among the various age groups, Chief Executive Carrie Lam Cheng Yuet-ngor said the jobless rate for those aged 20-24 had reached 13.4 per cent, with 27,600 young people out of work.
During the severe acute respiratory syndrome outbreak in 2003, the unemployment rate for those in their early 20s was 14.6 per cent.

“Youth unemployment is not unique to Hong Kong, as many European countries are facing the same problems too,” Lam wrote on her Facebook page on Wednesday night.
“But because of the pandemic, young people, especially new graduates, face greater challenges in finding jobs.”
In order to help, Lam said she had instructed her ministers to create jobs, both temporary and permanent ones, especially for young people.
So far, a total of 5,450 jobs in government and private sectors had been created, with some positions available immediately.
They include 1,000 training posts for engineering graduates, 700 contract jobs in environmental protection in the coming months, 1,000 jobs in the financial technology sector, and 700 jobs in the civil service.


Others include more than 1,750 trainee or internship opportunities in the private sector for architecture or city planning graduates.
Apart from the 20 to 24-year-old group, the jobless rate among those in their late 20s reached 7.3 per cent, with 30,900 people unemployed.
“In the coming months, we will continue our discussion with the private sector, so that we can explore more job opportunities for our graduates through the use of the anti-epidemic fund,” Lam said.
She also appealed to young people to not “lose faith, equip yourself and have confidence in the city’s future, I am sure that these difficult times will not last forever”.
Lam said earlier that with the launching of the employment support scheme, the government hoped the recession and unemployment rate would not be worse than 2003, a year when the rate increased to about 8 per cent.
Foreclosures to surge as homeowners struggle due to recession, rising unemployment
Official figures released on Tuesday show the city’s jobless rate was up 0.7 percentage points from March to May, compared to 5.2 per cent the previous month. It is now the highest since early 2005, surpassing the figure recorded in the wake of the global financial crisis in 2008.
Overall, the number of unemployed in the city increased by about 27,900 – from 202,500 between February and March, to 230,400 from April to May.
Secretary for Labour and Welfare Law Chi-kwong warned the rate was likely to continue to rise next month.
Battered by anti-government protests, the US-China trade war, and the global economic slowdown, the city entered recession last autumn.
The local economy was dealt another blow when the coronavirus reached Hong Kong in late January.


Financial forum, Politburo meeting and more

Hong Kong should keep its cool in the age of Trump

Panda Watch: how can Hong Kong cash in on panda economy as cubs reach milestone?

Visa denials under Trump could be an opportunity for Hong Kong

Hong Kong economy

Hong Kong to create 5,000 jobs for young people as unemployment rate among 20 to 24-year-olds nears record high

The overall unemployment rate in Hong Kong has reached a 15-year high. Photo: David Wong

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor reacts on the press briefing at the Central Government Offices in Tamar before the Executive Council meeting. 16JUN20 SCMP / Robert Ng

Coronavirus: Hong Kong finance chief warns jobless rate will be worse than after global financial crisis

Hongkongers are unlikely to be leaving the city for now, Paul Chan says. Photo: Nora Tam

No shoppers visiting luxuary brand stores at 1881 Heritage in Tsim Sha Tsui amid coronavirus outbreak. 16APR20 SCMP /  Nora Tam

Interview with Financial Secretary Paul Chan Mo-po at the Central Government Offices in Tamar. 11JUN20 SCMP / Nora Tam

Coronavirus: Hong Kong’s jobless rate rises to 5.2 per cent, highest in more than a decade, as pandemic hammers economy

Hongkongers head to work in Central on Tuesday. Photo: Nora Tam

People looking for jobs at Employment Service of the Labour Department. 19MAY20 Photo: SCMP/ Nora Tam

News

Hong Kong

Society


Jobless rate among those in their early 20s hits 13.4 per cent with 27,600 out of work
Overall unemployment rate in city climbs to highest level in 15 years



Unemployment rate among 20 to 24-year-olds hits 13.4 per cent with 27,600 out of work.


Jobs

Carrie Lam

Hong Kong to create 5,000 jobs for young people as unemployment rate among 20 to 24-year-olds nears record high

Jobless rate among those in their early 20s hits 13.4 per cent with 27,600 out of work Overall unemployment rate in city climbs to highest level in 15 years

Jobless rate among those in their early 20s hits 13.4 per cent with 27,600 out of work

Overall unemployment rate in city climbs to highest level in 15 years